Digg.com for Sale : $300 Million

Digg.com is officially in the market for sale with a price tag of $300 million dollars. One of the most popular social media sites on the net with millions of visitors per month and one of the largest user-generated content sites around, Digg has one of the lmost loyal user followings on the net.

A reliable source just confirmed the company’s plans, noting the company has hired Allen & Company, a tiny but influential private investment firm, to help broker a deal. The asking price is still $300 million, the source said.

We asked Digg founder Kevin Rose about a potential sale, and Allen & Company’s involvement. He told us, unsurprisingly, that “we never comment on things related to acquisitions.”

Digg has recently partnered with the Wall Street Journal, Microsoft, and others making the company more desirable to possible buyers.

It is said that Digg has been in the market for a few months now but it is now being put in the market by Allen & Company who have made mergers and acquistions possible for companies such as Disney, Universal Studios, and many others.